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Turkey’s ErkPort + China’s Yantai expand cooperation: Turkey’s maritime transport and port services provider ErkPort inked a strategic agreement with China’s port operations services firm Yantai Port Group to position Haydarpaşa Port as a logistics gateway connecting the Far East, Europe, and Africa, according to a statement.
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In a nutshell: Under the “Two Ports One Road” agreement, finished vehicle logistics, construction machinery, cargo, and Ro-Ro transportation will be transported between Yantai Port and Haydarpaşa. ErkPort will also move some 100k passenger vehicles per year through Yantai Port to reach markets in Korea, Japan, and Australia. The project also aims to increase automotive exports and ensure seamless procurement for raw materials, Sardis Global reports.
The project intends to use feeder ships for transport, and will cross through the Suez Canal to offer fast and cost advantages for customers.
A boon for bilateral trade: China is Turkey’s third largest trading partner, second largest source of imports, and 15th-largest export market, China Briefing reports. The total trade between China and Turkey was up 12.6% y-o-y to hit USD 4.3 bn back in 2023. China’s exports to Turkey rose 14.8% y-o-y to USD 39.07 bn, while Turkey’s exports to China recorded a 4.2% y-o-y decline to USD 4.33 bn during the same period.
